[photopress:banyantree.jpg,full,alignright]Banyan Tree Holdings, an operator of luxury hotels stretching from the Seychelles to Phuket, said that China would become its fastest-growing market in a global expansion plan.
The company chairman, Ho Kwon Ping, said in a recent interview that Banyan Tree, based in Singapore, has more employees assessing opportunities in China than anywhere else. At Banyan Tree’s new resort in Yunnan province, almost half the clients paying more than $400 for a night’s accommodation are Chinese nationals.
Banyan Tree is focusing its expansion on China as economic growth there swells salaries and lifts consumer spending.
Banyan Tree’s Ringha resort and the Lijiang site, which opened this year, are both in the southern Yunnan province, northeast of Myanmar. At the company’s Shanghai venue, a 90-minute spa session is advertised at $100.
Source: Bloomberg